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‘Cut inflation, investors will follow'

Update: March, 16/2012 - 10:20

HCM CITY — The Vietnamese Government should lower entry barriers for foreign companies and continue to fight inflation if it wants to attract more foreign investment, a Belgian business leader has said.

Guy Balza, chairman of the Belgian Luxembourg Chamber of Commerce in Viet Nam (Beluxcham), made his remarks at a Beluxcham Business Achievement Awards Ceremony held yesterday in HCM City.

A Belgian Economic Mission is currently visiting Viet Nam. Prince Philippe, various Belgian ministers, the Belgian ambassador and the honorary consul of Belgium, together with several members of the Belgian economic delegation and 30 Beluxcham members, participated at the awards ceremony.

Speaking at the ceremony, Balza said that the country should devote more attention to promoting Viet Nam's market attractiveness and its great potential to investors.

He pointed out Belgium's strong presence in Viet Nam. For example, the Dinh Vu Industrial Zone is a joint venture between Rent-a-Port and the Hai Phong People's Committee.

When the Bridgestone tyre manufacturing project is completed, it is expected to be the largest FDI project ever in Viet Nam.

Another successful project, Jan De Nul NV, is part of the Steel Mill Complex and Son Duong Port Contract in the central province of Ha Tinh, the largest foreign direct investment project ever licensed in Viet Nam, with total investment capital of nearly US$8 billion.

The Belgian-owned Saigon River Factory, which was founded in 2004 and has 200 employees, is producing decoration materials and floor and wall tiles.

Last year, the business grew up by 25 per cent. The company exports to several retailers in Europe and the US, and has strong potential.

Balza said he had encouraged Belgian companies to increase further business development in Viet Nam.

Beluxcham awards

Beluxcham promotes the development of business cooperation between the two countries through the Beluxcham Viet Nam Achievement Awards.

Launched in 2011, it also aims to honour the considerable achievements of Belgian/Luxembourg enterprises and leaders in Viet Nam.

Rewarding Belgian companies and entrepreneurs and Belgian business leaders in Viet Nam gives them visibility in the business community here.

This year, Saigon River Factory won in the category "companies active in Viet Nam for more than three years" and Jan De Nul Group won in the category for "companies active in Viet Nam for less than three years."

The prize "Senior Belgian managers active in Viet Nam for more than three years" went to Bart Verheyen, who is procurement and merchandising director of food at Metro Cash & Carry Viet Nam, and is on the company's board of directors.

A prize for long-standing business achievement in Viet Nam was awarded to the Dinh Vu Industrial Zone, which is a Belgian and Vietnamese joint venture. — VNS

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